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Old Posted Nov 17, 2018, 12:54 PM
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Amazon’s LIC developers signed $300M deal to buy nearby site

By Lois Weiss
November 16, 2018

Amazon’s Long Island City developers, TF Cornerstone, signed a $300 million deal to buy a nearby development site just last week.

The Post has learned the developers, which are the most active in the area, having built hundreds of apartments in the new towers along Center Boulevard, will buy an eight-acre triangular site along the north side of Newtown Creek — a few short blocks south of the Amazon project at 46th Road.
The 326,000 square feet of land at 55-01 Second St. is bounded by 54th Avenue to the north and Vernon Boulevard to the east.

The pricing equates to $187.50 per buildable foot and the developer will have to demolish the current buildings and put in all the infrastructure such as sidewalks and sewers.

It is expected to support four, 400-feet-tall towers with more than 2,000 rental apartments. Under current City rules, about a third of them would be affordable.
NEW YORK heals.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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